financetom
Business
financetom
/
Business
/
Trump threatens tariffs on Spain over refusal to boost NATO defense spending
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Trump threatens tariffs on Spain over refusal to boost NATO defense spending
Oct 15, 2025 2:00 AM

WASHINGTON (Reuters) -President Donald Trump on Tuesday threatened trade penalties, including tariffs, against Spain, saying he is unhappy with its refusal to raise defense spending to 5% and calling the move disrespectful to NATO.

"I'm very unhappy with Spain. They're the only country that didn't raise their number up to 5%... so I'm not happy with Spain," Trump told reporters at the White House.

"I was thinking of giving them trade punishment through tariffs because of what they did, and I think I may do that," Trump added.

Trump has repeatedly pushed NATO members to spend more on their own defense and cast doubt on Washington's willingness to come to the aid of members who do not spend enough. He said last week while meeting Finland's president that NATO should consider throwing Spain out of the alliance over its refusal to agree to the new commitment.

Spain is a reliable member of the alliance and currently has 3,000 soldiers deployed under NATO, Spanish Foreign Minister Jose Manuel Albares said on Wednesday when asked about Trump's comments.

"There is no doubt about Spain's commitment and contribution to (transatlantic) security," he told reporters during a visit to Hangzhou, China.

Citing the great threat posed by Russia since its 2022 invasion of Ukraine, NATO members have argued that their previous spending commitment of 2% of GDP is no longer sufficient.

Spain was the only member of the 32-nation alliance not to commit to increasing military spending to 5% of GDP.

Spanish Prime Minister Pedro Sanchez secured a last-minute exemption at the time, saying Spain would only spend up to 2.1%, which he called "sufficient and realistic."

Madrid, which joined the North Atlantic Treaty Organization in 1982, has argued it compensates for the lower spending with strong troop contributions to NATO missions, including deployments in Latvia, Slovakia, Romania, Bulgaria and Turkey.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
BRIEF-IBM To Acquire Cognitus To Accelerate SAP Transformations Globally
BRIEF-IBM To Acquire Cognitus To Accelerate SAP Transformations Globally
Oct 15, 2025
Oct 15 (Reuters) - International Business Machines Corp ( IBM ) : * IBM TO ACQUIRE COGNITUS TO ACCELERATE SAP TRANSFORMATIONS GLOBALLY * IBM ( IBM ): FINANCIAL DETAILS OF TRANSACTION WERE NOT DISCLOSED Source text: Further company coverage: ...
Bank7 Q3 net income beats expectations
Bank7 Q3 net income beats expectations
Oct 15, 2025
Overview * Bank7 ( BSVN ) Q3 net income of $10.8 mln, beating analyst expectations * EPS for Q3 beats analyst estimates, despite a decrease from previous quarter * Company reports increase in total assets and loans for Q3 Outlook * Bank7 ( BSVN ) plans to grow by opening new branches and pursuing acquisitions * Company expects sustained growth...
Wajax Outlines CEO Succession Process
Wajax Outlines CEO Succession Process
Oct 15, 2025
08:10 AM EDT, 10/15/2025 (MT Newswires) -- Wajax Corporation ( WJXFF ) , a diversified industrial products and services provider, announced Wednesday that its Board of Directors and Iggy Domagalski, President and CEO, have jointly agreed to initiate a CEO succession process. As part of this planned transition, Domagalski will continue to serve as President and CEO and a director...
ASP Isotopes Prices Public Offering of About 17 Million Shares
ASP Isotopes Prices Public Offering of About 17 Million Shares
Oct 15, 2025
08:10 AM EDT, 10/15/2025 (MT Newswires) -- ASP Isotopes ( ASPI ) said Wednesday it priced an underwritten public offering of roughly 17.2 million common shares for gross proceeds of about $210.3 million, with closing expected Thursday. Underwriters have a 30-day option to buy about $31.5 million of additional shares at the offering price, the company said. Net proceeds will...
Copyright 2023-2026 - www.financetom.com All Rights Reserved